News

We will feed this page with hot topics in the news relating to business, tax and updates.

  • New grants will be available for businesses required to close in second lockdown
    At the start of the second English lockdown (Thursday 5 November 2020), local businesses who have been ordered to close for four weeks may be eligible for a government grant of up to £3,000. The Local Restrictions Support Grant, which… Read more
  • The Job Support Scheme
    Job Support Scheme Open Factsheet 1. Whatareweannouncingtoday?• Recognising the evolving situation with the pandemic and health restrictions, and the pressures employers are facing this winter, the Government has announced that it will increase the scale of support available to employers… Read more
  • Job Support Scheme – help announced for business until April 2021
    Job Support Scheme Factsheet What is it?• The Job Support Scheme is designed to protect viable jobs in businesses who are facing lower demand over the winter months due to Covid-19, to help keep their employees attached to the workforce…. Read more
  • HMRC begins compliance activity around furlough mistakes
    With the government’s Coronavirus Job Retention Scheme (CJRS) drawing to a close and due to finish on 31 October 2020, the tax authority is wasting no time and has formally started its compliance activity. This follows last month’s royal assent… Read more
  • Second stage of the self employed support scheme open for applications
    The government has called applications for the second stage of SEISS, having handed out £7.8 billion of grants to 2.7 million self-employed people over the first stage of the scheme. Those eligible will now be able to receive a second and… Read more
  • Job Retention Scheme from September 2020
    From 1‌‌ September CJRS will pay 70% of usual wages up to a cap of £2,187.50 per month for the hours furloughed employees do not work. You will still need to pay your furloughed employees at least 80% of their usual wages for… Read more
  • Job Retention Bonus and what you need to do to qualify
    This is a one-off payment of £1,000 to employers that have used the Coronavirus Job Retention Scheme (CJRS) for each furloughed employee who remains continuously employed until 31‌‌‌ ‌January 2021. The bonus will provide additional support to retain employees. To… Read more
  • Flexible furlough scheme kicks off
    The government’s Coronavirus Job Retention Scheme (CJRS) has so far helped protect more than 9.3 million jobs through the pandemic, with employers claiming more than £25.5 billion to support wages. While the scheme will remain open until the end of… Read more
  • New bank transfer rules come into force
    A new ‘confirmation of payee’ safety measure will allow you to check exactly who you are transferring money to under new fraud rules that come into force today. Six major banks, including Barclays and HSBC, have introduced new security checks… Read more
  • Financial Assistance for employers who are unable to pay statutory redundancy payment
    If you are an employer who needs to make staff redundant in order to survive the coronavirus crisis, a Government scheme is in place to help fund the cost of statutory redundancy payments. Employers who can’t their employees redundancy pay… Read more
  • Claim Tax Relief Working From Home
    With the existing trend towards working from home accelerated during the lockdown, many people are asking how to save tax working from home because of the additional expenses they may incur. There are two ways this can happen: Your Employer… Read more
  • Flexible furloughing moved up to 1 July
    Addressing the media, Chancellor of the Exchequer, Rishi Sunak said that while the furlough scheme will be open until October, the government will ask “employers to start contributing”, as the government introduces flexible furloughing. “I believe it is right, in… Read more
  • Chancellor extends Self-Employment Support Scheme and confirms furlough next steps
    The government’s Self-Employment Income Support Scheme will be extended, giving more security to individuals whose livelihoods are adversely affected by coronavirus in the coming months, the Chancellor announced today (Friday 29 May 2020) Rishi Sunak announces Self-Employment Income Support Scheme… Read more
  • Chancellor confirms job furlough scheme to close in October
    Chancellor Rishi Sunak has outlined details of the extension to the Coronavirus Job Retention Scheme. The scheme currently allows businesses to keep salaried staff contractually employed, but not working, while the government pays 80% of their incomes. The plan was… Read more
  • Mortgage payment holiday extended for further three months
    Mortgage holidays started in March, allowing people to defer payments without affecting their credit rating. That respite from payments would end for the first applicants in June and the Treasury said the extension would provide certainty for those affected. However,… Read more
  • Coronavirus Statutory Sick Pay Rebate Scheme set to launch | HMRC
    A new online service will be launched on 26 May for small and medium-sized employers to recover Statutory Sick Pay (SSP) payments they have made to their employees, the government announced today (19 May 2020). The Coronavirus SSP Rebate Scheme… Read more
  • COVID-19 Resource Update to help you in the right direction
    There are different sources of finance and assistance available from the Government designed to help you, and your businesses. Here is a guide of what is available. Self-Employed Income Support Scheme (SEISS) We are unable to apply for this on… Read more
  • Chancellor extends furlough scheme until October
    Chancellor of the Exchequer has extended the Government’s furlough scheme until the end of October. Announcing the decision in the house of commons the Chancellor revealed that “no changes whatsoever” will be made to the current scheme until the end… Read more
  • Self-Employment Income Support Scheme: eligibility and how to make a claim
    The Self-Employment Income Support Scheme allows those who qualify to claim a grant of 80% of their average monthly trading profits. It is paid out in a single instalment ‒ so the equivalent of getting three months’ worth of money… Read more
  • 100% Government Backed Bounce Back Loan is Launched
    The Government has announced a new 100% Government backed loan scheme for small businesses. Small businesses will benefit from a new fast-track finance scheme providing loans with a 100% government-backed guarantee for lenders, the Chancellor announced yesterday. Chancellor Rishi Sunak… Read more
  • Changes announced to Coronavirus Business Interruption Loan Scheme (CBILS)
    Many small businesses that have applied for a government backed CBILS loan thus far have been offered standard overdrafts and loans – without the Government’s 80% guarantee – on the basis that they fit the banks’ criteria for this type… Read more
  • HMRC Guide to the Coronavirus Job Retention Scheme
    The Coronavirus Job Retention Scheme is a temporary scheme open to all UK employers for at least three months starting from 1 March 2020. It is designed to support employers whose operations have been severely affected by coronavirus (COVID-19). Employers… Read more
  • Self-Employed Income Support Scheme
    26/03/2020 The long-awaited statement from the Chancellor, Rishi Sunak regarding COVID-19 support for the self-employed has been announced. The Chancellor said that the scheme will benefit some 95% of people whose main income source is derived from self-employment. A list of… Read more
  • Coronavirus Job Retention Scheme
    24/03/2020 If you have been ‘furloughed’ then the new Coronavirus Job Retention Scheme may be able to help. If you are furloughed it essentially means that your employer has given you a temporary leave of absence or a type of… Read more
  • COVID-19 Business Support Update – 20 March 2020
    20/03/2020 On Friday, the Chancellor went significantly further than in the history of this great county, with a series of unprecedented announcements in the Government’s support of businesses, employees and individuals.  The range of measures for UK businesses is significant… Read more